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Level 1

Basis for traditional IRA without backup tax documents

I kept track of both deductible and non-deductible traditional IRA contributions on a spreadsheet but no longer have the tax records or 8606 forms of when I made these contributions.  These contributions were in the late nineties until 2001.  Can my spreadsheet still be used as justification for determining my basis, or am I out of luck and just have to consider all my past contributions as deductible?

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Expert Alumni

Basis for traditional IRA without backup tax documents

Without something more than a spreadsheet the IRS will probably disallow the basis.

 

It is important to have additional documentation for basis and deductions taken on a tax return.

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Highlighted
Expert Alumni

Basis for traditional IRA without backup tax documents

Without something more than a spreadsheet the IRS will probably disallow the basis.

 

It is important to have additional documentation for basis and deductions taken on a tax return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

Level 15

Basis for traditional IRA without backup tax documents

you lost your 8606 but that doesn't mean the IRS lost it.

If it makes you feel better, make a small non-deductible contribution (if allowed) like $100 and file form 8606 

showing your basis + 100.

OR

file 8606 showing your basis, many people do this even though it's not required.

With no contribution Turbotax won't include 8606, you'd have to file on paper.

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